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Butoxors [25]
3 years ago
8

The market for tomatoes is in equilibrium at the price of $10, and quantity of 50 tomatoes. If consumer surplus is $400 and tota

l surplus is $650, what is the producer surplus in the tomato market and why?
Business
1 answer:
Darya [45]3 years ago
3 0

Answer:

$250

This because out of the total surplus, the surplus left after being received by the consumer goes to the producer.

Explanation:

Data provided in the question:

Price of tomato = $10

Equilibrium quantity = 50 tomatoes

Consumer surplus = $400

Total surplus = $650

Now,

The  producer surplus = Total surplus - Consumer surplus

= $650 - $400

= $250

This because out of the total surplus, the surplus left after being received by the consumer goes to the producer.

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Read 2 more answers
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